A combination of contributions from acquisitions and helpful exchange rates saw profits surge at Tyman PLC (LON:TYMN) last year.
The supplier of engineered components to the door and window industry saw underlying profit before tax improve 38% to £62.1mln from £45.1mln.
On a constant currency like-for-like (CC LFL) basis the improvement was a more modest 5%.
Revenue rose 29% to £457.6mln from £353.4mln the previous year, but was up just 1% on a CC LFL basis.
The shares charged almost 10% higher to 307p as the company signalled confidence in the future with a 20% hike in the full-year dividend to 10.5p from 8.75p the year before.
"The acquisitions of Giesse and Bilco filled two significant gaps in our product portfolio bringing the group a high quality hardware brand for European markets and a meaningful presence in US commercial for the first time. On a smaller scale, the acquisition of Response has extended our electronic access capabilities in the UK,”said Louis Eperjesi, chief executive of Tyman.
“Progress on integration has been rapid and as a result both Bilco and Giesse will deliver their targeted synergy objectives by the end of 2017 - significantly ahead of schedule,” he added.
"2017 has started in line with our expectations across each of the divisions,” the chief executive said.
The expectation is that US residential and commercial markets will be stronger this year than they were in 2016, while Tyman expects to see a continuation of the gradual recovery in European markets; however, UK markets are likely to remain variable given lower levels of housing transactions and probable declines in real incomes.